Looks like big ripple (XRP) investors, either whales, take full advantage of the low rates at the moment. The total possessions of these whales have recently reached a peak. This point hadn’t been seen for at least two months. It can therefore be safely stated that XRP whales are no longer selling, but are stocking again.
That whales have been buying on a large scale for a while was noticed by the crypto analysis agency Feeling† They shared their findings on Twitter yesterday. Analyzing the buying and selling behavior of whales can be of great importance to estimate what the price may do in the future. Whales have a relatively large influence over the price of the underlying crypto currency.
🐳 #XRPNetwork whales holding between 1M and 10M $XRP have collectively been accumulating, and now hold their highest percentage of the asset’s supply in 2 months. This is the most active tier of non-exchange holders, and currently hold 6.12% of all $XRP. https://t.co/l39gjRe1Jb pic.twitter.com/M71kwL6r7T
— Santiment (@santimentfeed) May 25, 2022
Santiment classifies whales as investors who have between 1 and 10 million coins on their balance sheet. It is clear from the Santiment chart that this group of investors has not been deterred by the low price lately. On the contrary, they have just started buying XRP. Santiment also states that in just 11 days, total holdings of XRP tokens among whales rose by as much as 2.4%. According to Santiment, XRP whales currently hold 6.12% of all XRP in circulation.
“This is the most active level of non-exchanges, and they currently hold 6.12% of all XRP.”
The fact that whales are accumulating is sometimes seen as a signal that a serious price increase may be imminent. Of course this is not a watertight signal, but it can at least be called cautiously positive.
It will de XRP rate also not bad to start climbing again. At the time of writing, XRP has been under water by more than 80% since its all-time high a few months ago. That will not have left many XRP investors in the cold clothes.